When is the deadline for old naira note

*Ganduje, Akeredolu head to Supreme Court over swap deadline, withdrawal limits. *Lawan: No need for swap time limit. *Obaseki prohibits use of cash in Edo ...

“Ondo State Government averred that while it has more than 149 ministries, departments and agencies to run on daily basis in a state with more than three million people, less than 500,000 people have bank accounts through which bank transfer can be made. In an originating summon filed and signed by the Attorney-General of the state, Mr. This is not going to be the first country to deploy it that way, other countries have been doing the same thing and to say that in three months it will be okay, it is not okay, especially in a country like ours, where maybe 80, 85, 90 per cent of the population have no access to banks. “When Britain changed their currency, it took them over a year to change and the validity of the old remained a legal tender, so why ours? The government is pushing toward a cashless economy. The updated guidelines issued by CBN now place maximum withdrawal for individual and corporate organisations at N500,000 and N5 million respectively. President and he was there physically, he was present, so I’m sure that after this meeting, a lot of things will be done, particularly in easing the monetary tension in the society.” “Also, the Inspector-General of Police briefed the Council that they are equally prepared for the election and both of them gave us the details of their preparedness. According to him: “For us in the Senate, initially we felt that this policy, in the first place, is not a bad one, but we also feel there is no need for a time limit. “Basically, what took more time was that of the monetary issue because of the hardship of money in circulation across the whole states. So many views were proffered, particularly that the CBN governor should look into making sure that the new money is available in quantum. But the major issue across the board, from all the states and most of the speakers, is that of implementation.